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FLE GmbH, a property investor specialising in commercial properties and hotels, reports successful new leases totalling more than 2,350 m within the space of a few months in Stuttgart and Fellbach.

The prestigious property in Hasenbergstraße 31 in Stuttgart-West, built in 1899 and completely renovated in 1992, has been part of the FLE portfolio since October 2010 and has a total rental space of 3,700 m . The long-term tenants of the property include Klinikum Stuttgart, OBERMEYER Planen + Beraten GmbH, Metec Ingenieur AG and D.AN Personaldienstleistungen GmbH, among others. A temporarily vacant space of 860 m , resulting from expansion plans and the associated move of the careers training centre (BTZ), was able to be further leased to three new, attractive tenants within three months – Deutsche Rentenversicherung, Oscar GmbH and Yamaha Musikschule Maria Seemann. Dr. Alexander Klafsky, the Managing Director of FLE, explains: “The office building in Stuttgart has excellent access to the city’s infrastructure and very good ac- cess to local shops. In addition, the property provides ideally sized modern offices. As a result of our sound knowledge of the circumstances, we were able to divide up the areas again and design them, so that it was possible to achieve full occupancy again within a very short period of time.”

In Staufereck, too, an office building dating from 1990 in Fellbacher Straße 115 in Fellbach, several leases of the total area of approx. 1,500 m were able to be realised within a short space of time. The property is a four-storey building of approx. 5,200 m rental space, with an underground car park with 77 spaces. The anchor tenant of this property is VPT Akademie. The property has the tried-and-tested multi-tenant structure typical for FLE, with an average of eight to ten tenants, in which the loss of individual tenants can be quickly counterbalanced. Dr. Klafsky adds: “Property investors must always reckon with vacancy as well, resulting from tenants’ insolvencies or from their substantial economic difficulties. This was the case in recent months for several tenants at the same time in Fellbach, who had been using the property since we acquired it in July 2011. In light of past experience, however, the leases for flexible office space in a good location can be quickly renewed. Within a few months, we were able to successfully stabilise the tenant structure of our property in Fellbach. With the recent new leases to three different tenants, we were able to achieve full oc- cupancy within a very short space of time. Additionally, the contract with the main tenant, VPT Akademie, was renewed for a period of ten years.”

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About FLE GmbHFLE GmbH, based in Vienna and founded in 2007, is part of the French LFPI Group, an independent and international multi-asset manager with over €3 billion in managed assets, which offers its investors opportuni- ties in the asset categories of private equity, real estate, debt and asset management. FLE GmbH works as an investment advisor for FLE SICAV FIS, a special fund founded in Luxembourg in September 2008, as well as for a LFPI REIM fund, founded in September 2013. The investment focus of both funds is on office and commercial properties as well as low-budget hotels, with a purchasing volume of €3 million to €40 million per single property in medium-sized German cities as well as in the Greater Vienna area and the large Aus- trian provincial capitals. The German market is a particularly attractive investment goal for FLE. With its most recent funds, FLE is concentrating its investment activity to an even greater degree on the German market.